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| Renko Based Automatic Loss Recovery https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3731 |
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| Author: | Spectre [ Tue Jul 15, 2014 1:42 pm ] |
| Post subject: | Renko Based Automatic Loss Recovery |
Now, i have been reading the ALR threads and see that there are discussion on what method of entry one should use. I tend to favor the trading strategies without indicators, let the price do the work. Maybe a Renko candle entry would be suitable for ALR. Fixed size of bars, known entry and exit prices. Could be standard or Parallel bars. My thinking: "Scalper" enter at start of candle. Take profit = Renko candle size x 4 Start recovery = enter price - candle size. "Kind of fast trader" enter at start of candle. Take profit = Renko candle size x 8 Start recovery = enter price -2 x candle size. Inputs: Candle size (could be auto detect) TakeProfitNumberOfBars StartRecoveryAtMinusBars "recovery options" Maybe use filters for determining trades to take, trading time, pivots, daily open, MA's.....indicators to guide our initial trade. Spectre |
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| Author: | Spectre [ Fri Jul 18, 2014 9:57 pm ] |
| Post subject: | Renko Based Automatic Loss Recovery |
A picture to describe it, for those not familiar with parallell renko bars |
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